Sensex plunges 1,000 points to six-month low as oil prices surge

Indian stock markets experienced a sharp sell-off, with the Sensex plunging over 1,000 points to its lowest level since early April, wiping out nearly Rs 7 lakh crore in market capitalisation. Surging crude oil prices amid escalating US-Iran tensions were the primary trigger. Brent crude prices rose over 3 percent to trade above $107 per barrel, while foreign selling and higher US Treasury yields further dampened investor sentiment. The Sensex hit an intraday low of 72,792.14, and the Nifty fell to 22,785.55, marking around six-month lows. The current decline remains above previous major sell-offs, including February 2024 (US inflation concerns), April 2025 (tariff-related), and March 2026 (Iran conflict). The ongoing geopolitical tensions and their potential impact on global energy supplies continue to weigh on market outlook.